Answer:
The correct answer is the third statement which says to maximize profits, the firm should produce less than 500 units.
Explanation:
The quantity of output produced is 500 units.
The marginal cost of producing 500 units is $1.50.
The minimum average variable cost is $1.
The price of the product is $1.25.
The firm will be at equilibrium when the price is equal to marginal cost. To maximize profits firm should decrease output to the extent that marginal cost comes to $1.25. At that point, the firm will earn profits as average variable cost is lower than the price.
Karen is buying a new laptop. She is looking for a light-weight computer. The laptop she purchases is a little heavier than she had originally hoped, but she was willing to accept the extra weight for a computer with a bigger, clearer screen.
Karen made her purchase decision using a compensatory decision rule.
In psychology, compensation is a approach whereby one covers up, consciously or unconsciously, weaknesses, frustrations, goals, or feelings of inadequacy or incompetence in a single life area thru the gratification or (drive toward) excellence in some other area. compensation can cowl up both real or imagined deficiencies and personal or bodily inferiority. fantastic compensations may additionally help one to conquer one's problems. then again, bad compensations do not, which ends up in a strengthened feeling of inferiority.
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A. Pure competition
Pure competition describes a market with a wide range of competing businesses all selling the same product, in this case milk.
Monopolies are a single company running the market, and oligopoly markets have a small number of players who together control the vast majority.
Answer:
Of course a sales agent can be involved, although they will probably charge a fixed amount and not a sales percentage. Many people probably need the help of a sales agent to fill out legal forms, including contracts, etc. Not everyone has the knowledge to prepare them or simply fill them out, and a sales agent can be helpful.
